This package consists of 2 reconciliations:

• a checklist which has all the needed turn signals that impact the continuity of the company,
• and if that continuity is in danger, it'll create a letter automatically.

WCO (Wet betreffende de Continuïteit van de Ondernemingen) turn signals

This checklist consists of all pre-defined checks on firm level, split up in 5 categories:

• Alarm Bell Procedure (linked to the legal texts by Silverfin or, if activated, the Net Asset and Liquidity Test by Fintrax);
• financial rates (based on the financial data);
• financial turn signals (checks with a financial character);
• operational turn signals (checks with an operational character);
• other turn signals (checks with no specific character).

All checks of financial, operational and other categories, can be overwritten at firm level. This means that the checklist can be changed, as one can define its own checklist, or add other checks as well. (if needed, please contact support@finify.be).

Every check that is ticked off, will show the name of the user, and when it was ticked off.

All checks lead to an automated conclusion. However, this conclusion does not decide the continuity, as one has to manually decide if the company is indeed in danger (as this can not really be automated).

WCO letter

When in danger, another reconciliation will be made as a letter. If there is no danger, this reconciliation will automatically be hided from the working papers (therefor it is suggested to always add both reconciliations to the workflow and/or working papers!).

This letter informs the customer of the signal turns that have an impact on the continuity. It is optionable to check off these signal turns.
All fixed texts is also configurable on firm level, meaning a letter can be made with a completely different text from the standard (if desired, please contact support@finify.be).

This package is available in French, and will be updated in the near future to English.
Also specific queries for Silverfin Insights are added to this package (for example: give me an overview of all companies with an automated conclusion that the continuity is in danger, or inform everyone that the continuity is in danger through Silverfin Interact).

To view a recorded demo of the WCO package, click here

Please contact your customer success manager or info@finify.be (or go to here) for further information.